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American financial software company Intuit has apparently limited the account of one of the cryptocurrency industry’s best-known figures, Andreas Antonopoulos. 

In a series of tweets on Dec. 4, Antonopoulos stated that Intuit had prevented him from accepting credit card payments via its accounting services due to his use of cryptocurrency. 

According to Antonopoulos, who undertakes regular international tours as a speaker and educator on Bitcoin (BTC) and associated topics, the company even requested he stop referencing cryptocurrency on his official website. Commenting on the events, he appeared to refuse to comply:

“Intuit Merchant Services @intuit just told me that I can’t be using crypto if I accept credit cards for my invoices. They asked me to remove crypto from my site. I instead elected to remove Intuit and their credit card services from my life.”

Continuing, he added that Intuit had “disabled” the option for him to accept credit card payments for his activities.

Antonopoulos is a fierce critic of traditional finance, often explaining to audiences how banks stand to lose to Bitcoin and new standards of individual financial sovereignty. He tweeted today, “The banking cartel doesn’t want competition or risk. They prefer monopolies, kleptocracy and captured regulators.”

Banks force Bitcoin bans

As Cointelegraph reported, certain payment entities continue to adopt a seemingly random policy on cryptocurrency clients. This week, a Danish court ruled in favor of Nordea Bank continuing to prevent its employees from holding cryptocurrency, triggering accusations of hypocrisy from online commentators. 

Nordea’s stance echoes those previously adopted by other banks, including Dutch institution Rabobank. The latter denied service to cryptocurrency businesses, having faced criminal proceedings over fiat money laundering. 

Last month, adult entertainment website Pornhub found payments to its 100,000 web models disrupted after PayPal suddenly refused to service the business. The website began a deal with cryptocurrency project Verge (XVG) last year.

In an ironic twist, U.S. lender Bank of America subsequently closed the account of a former senior PayPal executive. 

Cointelegraph has approached Intuit for comment but has not received a response at press time.

Cointelegraph By William Suberg , 2019-12-04 11:20:00 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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